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China Development Bank to raise 8B yuan via benchmark bonds

China Development Bank will issue 8 billion Chinese yuan worth of benchmark bonds in two tranches.

The bank said in an Aug. 13 release that it will issue 4 billion yuan each of three-year and seven-year bonds with annual coupons of 3.18% and 3.50%, respectively.

The notes will be issued Aug. 19 and listed on China's interbank bond market Aug. 21.

As of Aug. 13, US$1 was equivalent to 7.05 yuan.